Will This Healthcare Player Sustain Its Recent Uptrend – ASX: GMV

  • Apr 27, 2019 AEST
  • Team Kalkine
Will This Healthcare Player Sustain Its Recent Uptrend – ASX: GMV

G Medical Innovations Holdings Limited (ASX: GMV) is gen-next mobile health, as well as e-health company. It is involved with the development and marketing of clinical and customer medical-grade health monitoring solutions. GMV also provide end-to-end aid for projects related to e-health. The company was incorporated in October 2014 under Cayman Island law.

Presently, the healthcare sector features among one of the most exciting industries worldwide. Industry experts have predicted that new health ecosystems would bypass traditional medical centres, and instead concentrate on smaller specialized facilities, high-end outpatient clinics, and homecare options that utilize digital health and chronic care management tools.

As noted on 26 April 2019, the stock of the company closed the day’s trading session at a price of A$0.305. The company has given an overall yield of 132.14%, maintaining the uptrend yield in the last 12 months, by generating a return of 14.04%. In the last one month, the company has given a return of 12.07%. The market capitalisation of the company stands at around A$118.05 million with circa 363.22 million shares outstanding.

Recently, on 24 April 2019, the company hosted an Extraordinary General Meeting. The resolutions were voted in line with the Notice of General Meeting earlier advised to the ASX.

In its annual report for the period ending on 31 December 2018, the company recorded the revenues from ordinary activities, increasing by 2709% to US$3.06 million from US$0.109 million in the previous corresponding period. The total assets of the company on 31 December 2018 stood at $ 14.17 million from 21.5 million in the pcp.

From the cash flow perspective, the company recorded the net cash used in operating activities standing at $ 15.45 million from $8.28 million in the pcp. The net cash used in investing activities was noted at $4.8 million from $1.5 million. The cash and cash equivalents of the company at the end of the year was noted at $2.63 million compared to $14.16 million in the pcp.

In September last year, the company had signed a Controlled Placement Agreement with Acuity Capital Investment Management Pty Ltd, which resulted in offering the company with up to A$10,000 of standby equity throughout the two years and four months period from then.

On November 2, 2018, GMV announced that its 100% owned subsidiary, G Medical Innovations USA Inc, had entered into an agreement to acquire all the membership interests in Telerhythmics LLC, a US-based Independent Diagnostic Testing Facility. The Company executed the acquisition for $ 1.95 million in cash. The Company determined that the purchase price exceeded the fair values of assets acquired by approximately $314, which was recognized as goodwill. Upon the purchase price allocation, an amount of $1,505 was allocated to insurance coverage agreements to be amortized over the one-year period from then.

Besides, in November 2017, GMV concluded the procurement of US-based CardioStaff (now known as G Medical Diagnostic Services) through G Medical Innovations USA Inc which had signed an agreement to acquire 100% of the issued capital of the CardioStaff (G Medical Diagnostic Services).

Further, in its annual report, the company mentioned its dual listing on Nasdaq which was under progression phase. The company had concluded the F1 submission with the US Securities and Exchange Commission and was in a review procedure.  GMV was also in the process of listing its Chinese subsidiary on the HKSE with the expectation of getting listed during 2019.


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